First-Time Buyer Cash Planner
Estimate the down payment, FHSA and Home Buyers' Plan funds, land transfer tax, rebates, closing costs, and total cash needed to buy a first home in Canada.
Nothing is assumed. The FHSA, the RRSP Home Buyers' Plan and the land transfer tax refunds each have their own eligibility rules, so confirm them one by one. This tool does not make a legal eligibility determination.
Your eligibility
From your CRA account
Tax on the mortgage insurance premium
Suggested rate for this province: 8%. Ontario charges 8% provincial sales tax on the insurance premium.
You are approximately $61,876 short of your estimated cash requirement.
Total cash required
$81,876
Due on or before closing
Total available funds
$25,000
Confirmed sources only
Estimated shortfall
$61,876
After keeping a $5,000 reserve
Save each month
$5,156
Over 1 yr until your target date
- No buyer has confirmed land transfer tax first-time buyer eligibility, so no rebate is estimated.
Counted inside the down payment, not as extra cash
Financed — added to the mortgage, not cash at closing
Ontario charges 8% provincial sales tax on the insurance premium.
Estimate only — based on the eligibility you confirmed
PST on CMHC premium
Planning rules version 2026.2 — last reviewed 2026-08-01. The base FHSA annual participation amount is $8,000 and the lifetime contribution limit is $40,000 — both informational only, because your actual participation room can differ. The Home Buyers' Plan limit is $60,000 per participant.
- FHSA — contributing to your FHSAs (participation room)
- FHSA — qualifying withdrawals from your FHSAs
- Home Buyers' Plan (HBP) — Canada Revenue Agency
- Ontario land transfer tax refunds for first-time homebuyers
- City of Toronto municipal land transfer tax rebate
- Mortgage loan insurance cost — CMHC
- PST on CMHC insurance — provincial rates
Educational planning estimates only — not mortgage, legal, or tax advice. Eligibility for first-time buyer benefits, rebates, and mortgage insurance is never determined here — you confirm it. Verify every figure with your lender, lawyer, and accountant.